ThisWay Global, the company looking to introduce AI to the recruitment industry, is looking to raise $7m in the US.

The Cambridge firm hopes to attract interest from international investors experienced in HR tech, software, marketplaces. It raised $2m last year to help launch its first product, GPS4Jobs, and plans to use the funds to expand sales and operations and develop further innovation to address the fatigue of hiring and finding a job.

CEO Angela Hood said: ”This is the first time we have sought capital in the US following our successful fundraise in Europe last year.

“This funding will allow us to continue to build momentum around our recent product launch, which generated significant customer interest, and to expand our operations internationally. We have been very pleased with the quality of investor intrest and negotiations.

“Today’s recruitment processes are still based on manual applications and time consuming, biased resume reviewing and processing, done mostly on paper.

“Our technology revolutionizes the way companies recruit employees. GPS4Jobs is powered by our machine learning Match-ic algorithm and uses large-scale matching capacity and holistic analysis, to do in minutes what it would typically take a hiring manager 40 hours to do.

“Our GPS4Jobs platform helps companies eliminate subconscious bias in the selection process and provides them with a much wider and diverse pool of potential, pre-screened employees.”

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ThisWay says its platform reduces conscious and unconscious selection bias in candidate profiling which provides a better choice of truly diverse candidates. The company developed at Cambridge University’s ideaSpace incubator, and is now ready to shake up the recruitment industry.

To that end it has struck up a partnership with HireAbility, a provider of CV analysis technology which makes human language understandable by computers. Marrying the companies’ technologies will allow for resumes and CVs in more than 30 languages, as well as professional certifications, licenses and other documents, to be both analysed and automatically matched to suitable job vacancies via machine learning. Uniquely, this product partnership will provide equal benefit to both the candidates and the employers.

Hood added: “Incorporating HireAbility’s sophisticated parsing technology, our innovative AI-powered recruitment platform can now decipher resumes and CVs in more than 30 languages, matching the right candidate for the employer and the right opportunity for the candidate.

“Following this step-change in capabilities, our HR tech, job board, recruiter and corporate customers will all benefit from the enhanced technology, helping individuals and businesses succeed in the new world of work.”